Coalition’s comprehensive Executive Risks Insurance products are now available on surplus lines paper, making comprehensive management liability coverage available to a wider range of businesses.
The cyber insurance provider now offers Executive Risks Insurance – including Directors & Officers Liability (D&O), Employment Practices Liability (EPL), Fiduciary Liability, and Crime Insurance – in all US states, as well as to larger businesses with up to 1,000 employees and $500m in assets.
With this expansion, the offering is now available to healthcare, education, private equity and venture-backed portfolio companies, and more not-for-profit organisations, to name a few.
Patrick Mitchell, Coalition’s Executive Risks Lead, said: “With best-in-class data and technology at our underwriters’ disposals, we can focus on what matters most—helping our broker partners. At Coalition, our goal is to make it as easy as possible for brokers to offer their clients market-leading management liability insurance coverage.”
Coalition’s Executive Risks Insurance product leverages the company’s proprietary digital scanning technology to collect and analyse live data on a potential policyholder’s risk areas and produce a bindable quote in minutes.
According to the announcement, the new surplus product is underwritten by certain underwriters at Lloyd’s (A rating by AM Best).
“When policyholders choose Coalition for Executive Risks Insurance product offerings, they get more value during their policy term, including before the policy is bound and long after,” continued Mitchell.
“As businesses continue their digital transformations, they also adopt greater risks. Our risk management services provide policyholders with tools to mitigate this risk and value whether or not they ever experience a claim – making them smarter and safer in the process.”
Coalition also noted that additional enhancements include affirmative security-holder coverage for claims arising from a cyber breach, biometric defence costs, automatic subsidiary coverage with acquisitions, and no settlement or hammer clause.
